{{Short description|UK government department}} {{Multiple issues| {{Primary sources|date=July 2015}} {{More citations needed|date = July 2011}} {{Update|date=November 2016}} }} {{Use dmy dates|date=July 2015}} {{Use British English|date=July 2015}} {{Infobox government agency |agency_name = UK Trade & Investment<br /><small>{{langx|cy|Masnach a Buddsoddiad y DU}}</small> |type = Non-ministerial government department |nativename = |nativename_a = |nativename_r = |logo = UKtrade.svg |logo_width = 190px |logo_caption = |seal = |seal_width = |seal_caption = |picture = Department for Business, Enterprise and Regulatory Reform - geograph.org.uk - 2865867.jpg |picture_width = |picture_caption = |formed = {{Start date|df=yes|2003|10|}} |preceding1 = British Trade International |dissolved = July 2016 |superseding = Department for International Trade |jurisdiction = United Kingdom |headquarters = 1 Victoria Street, London, SW1H 0ET |coordinates = |employees = 2,331 |budget = £270 million (2009-2010)<ref>{{citation |url=http://www.ukti.gov.uk/uktihome/aboutukti/item/114708.html |archive-url=http://webarchive.nationalarchives.gov.uk/20101123145241/http://www.ukti.gov.uk/download/file/114708.html |url-status=dead |archive-date=2010-11-23 |title=UKTI Resource Accounts 2009-2010 |publisher=UK Trade & Investment |date=2010-07-22 |access-date=2010-12-19 }}</ref> |minister1_name = |minister1_pfo = |chief1_name = |chief1_position = |agency_type = |parent_department = |parent_agency = |child1_agency = |keydocument1 = |website = {{URL|http://www.gov.uk/ukti}} |footnotes = |map = |map_width = |map_caption = }}
'''UK Trade & Investment''' ('''UKTI''') was a UK Government department working with businesses based in the United Kingdom to assist their success in international markets, and with overseas investors looking to the UK as an investment destination.<ref>{{cite web|url=http://www.ukti.gov.uk |title=UK Trade & Investment - GOV.UK |publisher=Ukti.gov.uk |access-date=2015-07-22}}</ref><ref>{{cite news |title=Late Payments |url=https://www.businessmole.com/late-payment-crisis-the-top-5-excuses-costing-uk-businesses-millions/ |publisher=Businessmole}}</ref> It was replaced in July 2016 by the Department for International Trade.<ref>{{Cite web|title=UK Trade & Investment|url=https://www.gov.uk/government/organisations/uk-trade-investment}}</ref>
==History==
{{See also|1=Minister of State for Trade|label 1=List of UK Trade Ministers}}
UKTI was formed in May 1999 as '''British Trade International''', comprising two parts: '''Trade Partners UK''' (for export promotion) and '''Invest UK''' (for inward investment - FDI). In October 2003, the former department name and two inner departments merged and became '''UK Trade & Investment''' to simplify the outward recognition of the organisation, and possibly to reduce confusion with the two departments.
==Aims== To support its aim to "enhance the competitiveness of companies in Britain through overseas trade and investments; and attract a continuing high level of quality foreign direct investment".<ref>{{cite news |title=Quantamental investing |url=https://kailashconcepts.com/quantamental-investing-a-brief-primer-on-kcrs-toolkits/}}</ref>
==Structure== UK Trade & Investment was an international organisation with headquarters in London and Glasgow in Scotland. Across its network UK Trade & Investment employed around 2,400 staff and advisers, including overseas in British Embassies, High Commissions, Consulates and trade offices, and regional offices in the nine English regions <ref>{{cite web|url=http://www.ukti.gov.uk/uktihome/aboutukti/ourperformance/officialreports/departmentalreportresourceaccounts.html|title=UKTI Resource Accounts 2009-10, Staff Numbers and Related Costs|page=67|publisher=Ukti.gov.uk|access-date=2015-07-22|archive-date=28 October 2012|archive-url=https://web.archive.org/web/20121028081029/http://www.ukti.gov.uk/uktihome/aboutukti/ourperformance/officialreports/departmentalreportresourceaccounts.html|url-status=dead}}</ref>
The delivery of many UKTI regional services within the United Kingdom was contracted out to other organisations. In Devon, Cornwall and Somerset, UKTI regional services were delivered by Serco,<ref>{{cite web|author=The Committee Office, House of Commons |url=https://publications.parliament.uk/pa/cm200910/cmselect/cmbis/266/26607.htm |title=House of Commons - Exporting out of recession - Business, Innovation and Skills Committee |publisher=Publications.parliament.uk |date=2010-01-28 |access-date=2015-07-22}}</ref> In China, the China Britain Business Council, another private body, was the provider.
Business and university leaders worked with UKTI as "business ambassadors". They promoted the UK internationally and highlighted trade and investment opportunities. They focused on helping small and medium-sized enterprises (SMEs).
UK Trade & Investment brought together the work of the Foreign & Commonwealth Office and the Department for Business, Energy and Industrial Strategy. The UK Special Representative for International Trade and Investment worked as part of UKTI to promote British business and produce.
UK Trade & Investment had public-private partnership agreements with the Federation of International Trade Associations under which they contributed market research and other reports on GlobalTrade.net.<ref>{{cite web |url=http://www.globaltrade.net/ |title=The Directory for International Trade Services |publisher=GlobalTrade.net |date=2015-02-03 |access-date=2015-07-22 |archive-date=24 February 2018 |archive-url=https://web.archive.org/web/20180224075413/https://www.globaltrade.net/ |url-status=dead }}</ref> UK Trade & Investment had an arms-trade branch called ''UKTI DSO'' (UK Trade & Investment Defence & Security Organisation) headed by Sir Richard Paniguian.<ref>{{cite web|url=http://www.ukti.gov.uk/defencesecurity/aboutuktidso.html |title=UK Trade & Investment Defence & Security Organisation - GOV.UK |publisher=Ukti.gov.uk |access-date=2015-07-22}}</ref>
==See also== *Economy of the United Kingdom *Free trade agreements of the United Kingdom
==References== {{Reflist|30em}}
==External links== *{{Official website|http://www.gov.uk/ukti}}
{{Economy of the United Kingdom}} {{Authority control}}
{{DEFAULTSORT:Uk Trade and Investment}} Category:Economic history of the United Kingdom Category:Organizations established in 1999 Category:Investment promotion agencies Category:Department for Business, Innovation and Skills Category:Foreign, Commonwealth and Development Office Category:Foreign trade of the United Kingdom Category:Business organisations based in the United Kingdom Category:1999 establishments in the United Kingdom Category:Investment in the United Kingdom Category:Trade in the United Kingdom Category:2003 establishments in the United Kingdom Category:Defunct departments of the Government of the United Kingdom